Daily News Update

A new wave power project has bagged €2 million (£1.4m) in funds to run torrent tests in the Atlantic ocean.

CorPower Ocean’s technology called ‘HiWave’ works by capturing the wave energy to generate electricity.

It can harness five times more energy compared to previous models and at a third of the cost, according to KIC InnoEnergy, which previously jointly invested €6 million (£4.2m) with the Swedish Energy Agency.

The new funding is solely provided by the Swedish Energy Agency.

CEO of CorPower Ocean, Patrik Möller said: “Our goal is to test the prototype in the sea off the coast of Scotland and to show the same good performance as in the previous scale trials conducted in Portugal and France.”

Ocean energy is said to have enough power to cover more than 10 % of the world’s energy demand.